FundMiner – an AI-powered platform that helps fundraising organizations measure and maximize impact – recently announced that it has raised $1.725 million in funding. Arizona-based Sonoran Founders Fund led the funding round, followed by Techstars, Cascade Seed Fund, and more.
The funding will be used to accelerate the company’s growth and expand its reach in the advanced technology space. And FundMiner serves an array of businesses and nonprofits, from higher education & K-12 schools to nonprofits & community foundations, academic medical centers, arts & cultural organizations, religious organizations, and beyond.
When fundraising organizations aren’t effective with gift administration processes, they experience unhappy donors, a loss of future funding, and underutilization of resources. And FundMiner is transforming an outdated industry, in which deans, department chairs, other members of the leadership, and those in the advancement office capture information manually, churned out ad hoc reports, and dealt with unreliable, inefficient results. Now, this can all change. The AI-powered platform:
— Makes fund data accessible
— Reduces siloed systems
— Tracks fund usage & compliance
— Increases automation and efficiency
— Offers a portal to provide easy impact reporting
— Uses intelligent analytics to help leaders make informed decisions
— Reduces risks related to negative publicity and legal exposure
— Is complementary to products that many users already have in place, like Blackbaud’s Raiser’s Edge, Oracle’s Peoplesoft, and Salesforce
Launched in 2022 by Chelsea Lamego and Alejandro Stevenson-Duran, FundMiner’s software helps large fundraising organizations, like universities and community foundations, automate and simplify the management of their philanthropic funding. And by bringing together data from previously siloed systems and applying intelligent analytics, FundMiner enables customers to experience more effective capital utilization, increased fundraising revenue, and improved donor satisfaction.
KEY QUOTES:
“Our organization relies on philanthropic support from our donors. Our ability to spend and manage our donors’ generous gifts is absolutely critical in inspiring their trust in our institution.”
“Before FundMiner, we did what most fundraising-driven entities do: relied on disparate systems and combined the data from those systems manually in Excel spreadsheets to handle gift administration. Needless to say, this approach was ineffective and time-consuming. FundMiner’s streamlined solution is a breakthrough in our industry. It gives us access to the critical data, analytics and reports that will help us run a truly successful fundraising operation. FundMiner has had a profound impact on how we deliver for our donors. We’re already seeing it pay off in the form of increased giving from current donors.”
— Jake Logan, vice president for Institutional Advancement at The University of Texas at El Paso (UTEP)
